Attorney Sara Sharp shares her unique perspective on the evolving landscape of accounting firm ownership, compliance challenges, and acquisition trends. Drawing from her experience handling numerous accounting practice deals, she discusses creative alternatives to traditional partnership models, including phantom equity plans that align team member incentives without the complexities of direct ownership. The conversation explores common compliance pitfalls for modern firms with remote workers, the surge in accounting practice acquisitions by non-traditional buyers, and how younger firm owners are reshaping industry norms around work-life balance and profitability.
Connect with Sara:
https://www.skandslegal.com/sara-sharp
https://www.linkedin.com/in/sara-sharp-9a2a98b
Introducing Collective by DBA
https://collective.cpa
https://www.linkedin.com/company/collectivebydba
Learn More About Dillon Business Advisors
https://www.dillonadvisors.com
https://www.linkedin.com/company/dillonbusinessadvisors
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- (00:00) - Welcome to Who's Really the Boss
- (00:42) - Sara Sharp's Background and Expertise
- (04:21) - Best Advice Ever Received
- (07:36) - Client Attorney Privilege and Compliance
- (14:03) - Employee Handbook and PTO Policy
- (19:12) - Ownership Alternatives and Phantom Equity
- (23:45) - Valuation Challenges and Internal Loans
- (24:52) - Incentivizing Key Team Members
- (26:59) - Ownership and Leadership Dynamics
- (29:27) - Current Deals and Busy Season
- (31:17) - Trends in Business Acquisitions
- (37:46) - Future of the Accounting Industry
- (40:29) - Balancing Profit and Quality of Life
- (45:46) - Final Thoughts and Wrap-Up
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